On Thursday, BMO Capital Markets adjusted its financial outlook for Goeasy Ltd (GSY:CN) (OTC: EHMEF), increasing the company's price target to C$208 from the previous C$192. The firm maintained its Outperform rating on the stock.
The adjustment by BMO Capital comes as Goeasy Ltd continues to experience robust customer growth and enhanced operating leverage. According to BMO Capital, the company's financial projections are becoming more conservative despite these positive trends, suggesting a strong potential for performance that could outpace expectations.
Goeasy Ltd is reportedly capitalizing on a favorable competitive landscape. Banks have been tightening their credit, which positions Goeasy favorably in the credit spectrum. Additionally, smaller non-prime lenders have been retreating from the market, further benefiting the company.
The firm's confidence in Goeasy Ltd is reflected in their commentary, stating that Goeasy "remains one of our preferred ideas." This sentiment underscores the company's strong market position and the potential for continued growth in the financial sector.
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